Iron Horse Credit, an inventory lender, closed a $2.5 million stand-alone inventory revolving line of credit to an e-commerce retailer and wholesaler of athletic mats and flooring tiles. Started by a husband and wife from their garage, the company’s product was created out of the need for safe, reliable and cost-effective interlocking foam mats.
During the pandemic the company experienced significant growth, primarily through Amazon, driven by at-home exercising. The additional demand required the company to increase its inventory position, which was funded by the high-interest debt. Introduced by a trusted referral partner, Iron Horse Credit was able to pay off the high-interest loans and significantly decrease the company’s debt service while providing immediate working capital to operate and grow its business.
“It is always rewarding working alongside companies with such passion for their products,” Cesar Silva, vice president of business development for Iron Horse Credit, said. “We constantly see companies opting for unreliable high-interest funding which hinders their ability to operate. We are glad to provide the company with a structure that fits their growth plan.”